bali wholesale costume jewelry During the financial storm in 1997, did Hong Kong's hedge funds win or lose?

ella turkey jewelry wholesale Losing in 1997, the hedge fund owned by the US financial tycoon Soros set off a continuous sniper to Southeast Asian countries, shocking the world. After sweeping Southeast Asian countries, Soros moved his eyes to Hong Kong, China. So how did Soros do? Intersection Intersection

Soros was on a dark night in the middle of the night. Suddenly at 12 o'clock in the middle of the night, Soros sold Hong Kong dollars in New York. {The 5.30 of our stock market seemed to be announced at 12 o'clock in the middle of the night. What is short? Today, I borrowed a stock from a securities company. Today, I sold it at a price of 100 yuan. Tomorrow, the stock price fell to 60 yuan and bought the stock to the securities company. Since I sold it at 100 yuan, 60 yuan 60 yuan I bought it, so I made 40 yuan. Our stocks have to rise to make money and sell short? It must be made after the stock price falls.

The purpose of Soros to sell Hong Kong dollars is to sniper Hong Kong dollars, gambling Hong Kong dollars! Like short -selling stocks, as long as Hong Kong dollars fall, it can make money. But Soros is unreasonable at all, because the exchange rate system in Hong Kong is very strange. He is not a simple fixed exchange rate, but is connected to the US dollar exchange rate.

What is a fixed exchange rate? The fixed exchange rate is the government set a foreign exchange price, such as the US dollar for seven yuan. If the price of the US dollar is high, the government will throw US dollars to suppress the US dollar price, buy the RMB to lift the price to adjust, and the government maintains this exchange rate by buying and selling foreign exchange for US dollars, and maintains one dollar for 7 yuan.

but Hong Kong is not. Hong Kong is the exchange rate. What is the exchange rate? It is not the same as the fixed exchange rate, that is, the three banknote issuance banks in Hong Kong, including HSBC, Standard Chartered Bank, and Bank of China. As long as they want to issue Hong Kong dollars, they must deposit US dollars to the Hong Kong Financial Administration, which means that I must have to be Only if you deposit 100 US dollars to the Financial Administration, the bank can issue 750 yuan for Hong Kong dollars. If you do not deposit in the dollar, you cannot issue Hong Kong dollars. This is the exchange rate. This is almost the only world in the world. Unlike mainland China, the issuance of RMB in China does not need to be deposited in the US dollar. In theory, how much RMB can the Chinese government want to print RMB. But Hong Kong is not, Hong Kong must deposit in the US dollar to issue Hong Kong dollars. In this way, Hong Kong dollars are actually US dollar coupons.

Since Hong Kong dollars are the dollar wearing the veil, how can Soros be sold short? How could he fight against the dollar? What about the US dollar to snip the US dollar? Unless Soros does not want to live, the US government will inevitably arrest him. In this way, you are unreasonable. Do you always use different currencies to snip? right? So he couldn't succeed at all, but it scared us, oh my god! It's over, it's over, Soros is going to snipe us!

. The Hong Kong Financial Administration made a decision on the spot, saying that it was not allowed to borrow. In other words, Soros sells Hong Kong dollars at a high price today, and he will buy it back to Hong Kong dollars tomorrow. Right, but he sold Hong Kong dollars today that he could not buy Hong Kong dollars when he returned it tomorrow. He was no longer there. Isn't Soros a breach of contract, would he have to pay a fine? Do you fail the Hong Kong dollar? Don't we just defeat it? So at this time we did something very meaningful, that is, let Soros not borrowed Hong Kong dollars, told him not to have money, and he lost money!

OK. In order to make Soros not get Hong Kong dollars, the Hong Kong Financial Authority threw a large number of US dollars to acquire Hong Kong dollars and bought the Hong Kong dollars on the market. No money. So Hong Kong dollars are gone, yes! Soros can't buy Hong Kong dollars. But have you ever thought, Hong Kong dollar is gone, what about the interest rate of Hong Kong dollars? It will definitely rise right, because there is no Hong Kong dollar, what should I do if I need Hong Kong dollars? I have to use high interest rates to borrow Hong Kong dollars. Well, I will tell you that the result of the Hong Kong dollar recovery is the lack of Hong Kong dollars on the market. Therefore, the interest rate of Hong Kong dollar immediately soared. Do you know how much? The interest rate of one day rose to a price of 280 %.

The Hong Kong stock market at this time, no need to say two words; plunge! Before Soros sniped Hong Kong dollars, he had sold the 80,000 Hang Seng Index contract. What did he bet? Gambling is the plunge of the Hang Seng Index. What is short? That is, he first borrowed 80,000 Hang Seng Index to sell at a high price. When the Hang Seng Index fell to the trough tomorrow, he returned to buy 80,000 contracts. So what did Soros really make money? It depends on the stock price to make money, not foreign exchange.

. When the interest rate increased to 280 % on October 23, 1997, our stock price plummeted, and the market value of $ 40 billion in stocks disappeared. Soros's sniper, after 1997, the Hang Seng Index fell from the peak of 16673 to 6660 points, down 60 %. In this way, we failed completely.

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